National Property CLOCK

Written By Claudio Cuomo

G'day, g'day and happy Sunday. As February draws to a close in a few days, we hope the year has started as smoothly and lovely as the weather has been this month..

As always there is alot happening in the National, Global and Local economy at present affecting all things Property. So this week we take a closer LOOK at:

  • The National Property.. Where is Melbourne currently positioned

  • Inflation finally starting to slow, however further rate hikes expected

  • Interest Rate Maturity Mountain, and what this means for you

So the latest data, which typically can be 2-3 months behind the reality of what is happening LIVE on the property market floor. Indicates that Melborne is still at the START of DECLINE cycle. To be fair, we would say that the market is more so already well into the decline stage based on the challenges of the past 9 months, and that the worst of it is behind us. We would expect that as this year progresses, it is much closer to approaching the bottom and stabilsiing.

Retailers are finally warning of the trend that they are noticing consumer spending has started to slow. Still with this being said, financial markets have ramped up expectations that the Reserve Bank will raise it's CASH INTEREST RATE at least 2-3 more times to above 4% to combat inflation. Customers are finally being a bit more cautious than they were this time last year.

From May this year, also the 4 major banks in Australia have released data that colletively they hold over 850,000+ mortgages that are coming off their average FIXED RATE of 1.9% and may jump overnight to 5.5%-6%+ as all these rate holders loans mature and switch to the current Variable Interest Rate %. The prediction is that almost a decent percentage of these mortage holders will become distressed sellers, only adding supply to the current market and ensuring pressure on prices maintains and holds ground. Only adding to the importance that sellers right now must PRICE their home right..

If you would like to read Herron Todd White's FULL REPORT, simply CLICK HERE or HIT the IMAGE below..

 
 

This Week C+M Also COVERS:

  • National PROPERTY Clock...

  • What's My Property WORTH.?

  • C+M Market Activity & Clearance Rates..

  • Your Suburbs SOLD Results

  • Quote Of The Week..

 
 

What's My Property WORTH.?

Curious to get an UPDATE on where your property value sits this 2023. If you'd like to BOOK in your complimentary new years 'PRICE CHECK'  online today.

It's quick and easy. Simply CLICK HERE or HIT the IMAGE below, and follow the 3 easy Steps... 

 

The week's PRE-MARKET and YET to be Photographed homes:

The week's NEWEST home to market at C+M Residential:

The week's local SOLD results at C+M Residential:

 

Auction Clearance STATS:
25th Feb'23

*preliminary results based on Sundays Data from realestate.com.au

 
STATISTIC DATE No. or %
Results Available This Week 828
SOLD @ Auction This Week 354
SOLD Prior This Week 158
Clearance Rate This Week 62%
SOLD after Auction This Week 3
Withdrawn This Week 96
Total Scheduled This Week 1241
PASSED IN This Week 217
 
 
 

Your suburbs SOLD results:

GLENROY

HADFIELD

OAK PARK

PASCOE VALE

PASCOE VALE SOUTH

FAWKNER

BROADMEADOWS

COBURG NORTH

 
 

EXcellence in Real Estate..

 

There's only ONE WAY to Seize The Day..

 
 

Unmistakably Yours - The Claudio Cuomo Team

Claudio and team,

Need more specific information relating to your property? Or have property related questions..?

Just call the Claudio Cuomo Team - 'Your Area Specialist' and local friends in real estate.

Claudio Cuomo
Area Specialist & Auctioneer

Mobile: 0419 315 396
Email: claudio@cplusm.com.au
Website: claudiomarwan.eview.com.au

Office Phone: (03) 8781 3823
Office Email: hello@cplusm.com.au

Sales Office: 25 Pascoe Street, Pascoce Vale VIC 3044
Rentals Office: 33 Pascoe Street, Pascoce Vale VIC 3044

Claudio Cuomo
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